Legal Question in Real Estate Law in Pennsylvania
Selling Property to a family member
We had a camp and sold it to my stepson with a verbal agreement to pay $340.00 a month and total of $16,000.00 we still have the deed but now he wants to sell it and still
owes close to $3,000.00. Does he have to pay the balance
before he tries to sell it?
1 Answer from Attorneys
Re: Selling Property to a family member
Agreements to sell and buy real estate should always be in writing to be enforceable. When you say that you still have the deed, does that mean that you have not signed a deed conveying your interest to your stepson?
As long as you have signed, delivered and recorded a deed conveying your interest to your stepson, he cannot require you to do so. Of course, if he follows through with your "verbal agreement", you may want to give him a deed.
To properly protect your interests in the property, you should consult with a local real estate lawyer in your county.
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